Taxpayer Advocate Offers New Test for 501(c)(4) Status

National Taxpayer Advocate Nina Olson yesterday included in her mid-year report to Congress a recommendation for a clearer test for determining whether an organization seeking 501(c)(4) tax-exempt status is operating “primarily” for social welfare purposes. Social welfare organizations could elect to use the same numerical test used by 501(c)(3) groups, which is based solely on… Read more »

Treasury, IRS Issue Proposed Regulations on Certain Tax-Exempt Social Welfare Organizations

Yesterday the Obama Administration proposed new rules for tax-exempt 501(c)(4) organizations that engage in political activity. The joint Treasury and IRS statement noted that the promotion of social welfare does not include candidate-related political activity. The statement, republished on The Wall Street Journal here, indicated the proposed regulations will be, “regarding qualification requirements for tax-exemption… Read more »

Camp Will Not Push For Tax Reform Link in Debt Limit

House Ways and Means Committee Chairman Rep. Dave Camp (R-MI) commented Friday that he is no longer aiming to fast-tracking tax reform by tying it to the next increase in the nation’s debt ceiling. Bloomberg BNA (subscription required) reported the debt limit was originally estimated to come up in July, but increasing federal revenue has… Read more »